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@accaglobal_bot For Uzbek students https://t.me/accauzbekistana f5 https://t.me/f5performancemanagament f7 https://t.me/FRfinancialreporting f8 https://t.me/f8auditandassurance f9 https://t.me/F9FinancialManagment
PM - RELEVANT COSTING
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🔖 Who can audit banks in Uzbekistan?
🔴 To audit banks in Uzbekistan, it is not enough to have an auditor certificate from the Ministry of Finance (or organizations that issue this certificate). Auditing organizations are required to have at least 2 auditors on staff with certification from the Central Bank, and to obtain this certificate there are certain requirements from the applicant: availability of an audit certificate, experience in international audit organizations or in a bank in certain positions.
🟢 Based on data from the Ministry of Finance and Economy as of November 1, 2023 - at that moment the number of such auditors is 23 - 10 of them work in the Big 4️⃣. Grant Thornton has the most such auditors - 5, it is also worth noting that this company has audited the most banks based on the results of 2022. It is also worth noting that UHY Tashkent has joined the list of auditing organizations that can audit banks - both of their auditors received this certificate in October last year, but one should also not expect that banks will appear in their portfolio - because the same situation exists with IBAC, at the end of 2022, they did not audit any banks in Uzbekistan - at least there is no such information in open sources.
🚀@akierkinov
🪙 Who made how much money in the audit of Uzbekistan?
🔠ack in May of this year, the results of the ranking of audit organizations in Uzbekistan were published. Here will be some data from this ranking.
🔠o, here are the 🔝top 20 audit organizations in Uzbekistan by revenue for 2022 (some organizations did not participate in the ranking for various reasons).
🔠he first places are not surprisingly occupied by companies from the Big 4, the first place is occupied by KPMG with annual revenue of 66 billion soums (about 5.9 million US dollars), and the second place belongs to Deloitte - 64 billion soums (5.8 million US dollars), and PWC is in third place. You may notice that EY is not among them since the organization did not provide data when compiling the ranking. What else you can notice is the gap between PWC and Grant Thornton. Uzbekistan is no exception for the audit market, as companies from the Big 4 are many times ahead of others all over the world.
❗️ It is also worth noting that out of the top 20 companies, only 2 ended the year with a loss - KPMG (very surprising) and Mazars Advisory. The average profit-to-revenue ratio among the top 20 companies was 33%; the highest indicator in this category is Kreston Tashkent (as much as 64%).
➖ In terms of net profit, Deloitte was in first place with 16 billion soums, followed by HLB Tashkent with 9 billion soums and Grant Thornton with 6 billion soums. The total income of audit organizations in Uzbekistan in 2022 amounted to 437.7 billion soums.
🔜 Expect even more analytics next.
P/S: Everything written is purely personal and has nothing to do with where I work and what I do. All data was collected from open sources.
🔗@akierkinov
14 October at
Online results for the September 2024 session will be accessible on 14 October at 05:00 (UK time). If you opted to receive your exam results by email and text, we will start to issue these from 00:00 UK time on the day.
https://www.accaglobal.com/gb/en/student.html#:~:text=Online%20results%20for%20the%20September,UK%20time%20on%20the%20day
PM - MUHAMMED SIR - DEMO
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UNG 🤝 KPMG
Contract amount: USD 3,856,469.91 (UZS`M 48,971)
🚀@akierkinov
Who audits banks in Uzbekistan?
💰 Banking is an interesting activity all over the world, at least for me, and plays a very important role in the economy and finance in general. Just think about what it would be like if only one day the banks did not earn money, and how interesting it would be to look at the report of these banks themselves, and also who audits them in Uzbekistan?
📝 This article provides a list of banks and who audits them. In the article, banks are grouped into 2 groups: state-owned (with a state share) and private. Also a brief summary of the number of banks audited by audit organizations. All other information is in the pictures.
➡️ In 2023, two banks were deprived of their licenses from the Central Bank - Hi-Tech and Turkiston. It should also be noted that some banks from state-owned banks were privatized at this time, IpotekaBank - now part of the OTP Group, O`zagroeksportBank - completely changed its name, and now it has become AVO Bank. Also, at the time of publication, RavnaqBank rebranded and became Octobank, and QQB is now BRB. In addition, new banks opened in 2023, which will also serve to increase the audit market.
🔊All data is collected from open sources. Stay tuned.
🚀@akierkinov